OTP Bank (Kyiv) has provided Vioil industrial group, a producer of vegetable oils, with a financing limit of UAH 700 million to replenish the working capital of the group’s companies, the bank’s press service said.
“Thanks to the conditions provided by OTP Bank within the loan agreement, Vioil will significantly reduce expenses within the existing loan portfolio in other banks and will direct the saved funds to the development and annual increase in the volume of production,” the bank’s press service said, citing Vioil’s CFO Alla Vlasiuk.
Vioil Group is a producer of vegetable oils in Ukraine. It exports products to more than 60 countries around the world. The group’s assets include eight elevators and three monocultural oil extraction plants with a total processing capacity of 1.1 million tonnes per year.
OTP Bank is the flagship of the OTP banking group, registered by the NBU. It also includes AMC OTP Capital LLC and OTP Leasing LLC.
According to the National Bank of Ukraine, as of June 1, 2021, in terms of total assets, OTP Bank ranked ninth (UAH 65.854 billion) among 73 banks operating in the country.
Vinnytsia oil and fat mill of ViOil Industrial Group in 2018/2019 season has produced more nearly 89,000 tonnes of soybeans, which is 2.4 times more than last year.
According to the company’s press release, the combine processed over 17,000 tonnes of unrefined soybean oil and about 65,000 tonnes of soya oilseed meal.
The mill exports all processed soya products.
As reported, Kernel, one of the largest Ukrainian agrarian groups, in February-2019 acquired 5.85% of ViOil shares.
ViOil Industrial Group was created by Viktor Ponomarchuk in 2006 on the basis of agricultural assets of KMT industrial group.
Currently ViOil owns 13 granaries with a total capacity of 360,000 tonnes. The group exports products to more than 60 countries.
The oil and fat mills of ViOil industrial group have resumed their work after overhauls. “ViOil has completed the overhauls of its oil and fat plants. All the plants of the group are fully prepared for the new season of processing oilseeds,” the group’s website reported. Now the program of processing rapeseeds starts at the enterprises. The plan is to process about 107,000 tonnes of rapeseeds by the end of summer.
Commercial Director of ViOil Ihor Hadomsky noted that rapeseed oil and meal are in high demand in the foreign market. “We will send all the rapeseed oil to China. The main buyers of rapeseed meal are the EU countries, where it is used as a feed additive in animal breeding,” he said.
As reported, Kernel, one of the largest Ukrainian agrarian groups, in February-2019 acquired 5.85% of ViOil shares.
